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Paddy Power chairman Northridge to step down

LONDON--Paddy Power PLC's (PLS.DB) 2015 has started well, Chairman Nigel Northridge said Thursday ahead of the betting firm annual general meeting and announced that he will step down on June 30, to be replaced by Gary McGann.

"While sports results have been unfavorable across the sector, this has been offset for Paddy Power by strong top-line growth, particularly in Australia," Mr. Northridge said as he commented on for the period from January to May 11.

Mr. Northridge said he will step down as Chairman and as a non-executive director at the end of the first half.

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